By Hannah Lang

(Reuters) – Nearly 25% of nine small countries plan to accept digital currency as a method of payment by 2022. 13% of those consumers expect that retail shops will offer crypto payments in the next year, according to a study conducted by Visa Inc (NYSE:).

A survey of 2250 business owners in 9 countries (including the United States and Canada) suggests that cryptocurrencies could be becoming a mainstream payment method.

Visa also interviewed 1,000 adult Americans, 500 from each country.

“I think more people are feeling more confident with crypto,” said Jeni Mundy, Visa’s global head of merchant sales and acquiring, in an interview.

They are becoming increasingly popular among professional investors and retailers, but cryptocurrencies aren’t used widely to purchase goods and services. This is partly due to the frequent fluctuation in their value.

Monday’s drop was more than 5%. It fell below $40,000 for the first-time since September.

Many small businesses located outside North America will accept digital currency, such as Bitcoin, for payment.

Visa revealed that 30% or more of the small merchants operating in Brazil, Hong Kong, Singapore, and Hong Kong plan to provide customers with the ability to pay in crypto over the coming months. In each jurisdiction, digital currencies are thriving despite differing regulatory requirements.

However, just 19% of American small businesses and only 8% in Canada anticipate offering crypto as a means to pay in 2022.

Almost three-quarters of businesses surveyed worldwide reported that accepting new forms of payments is “fundamental” to their business growth. Mundy said that crypto adoption may seem like a natural progression for smaller businesses looking to adopt digital payment methods.

Their question is “What are other methods of payment?” And what other forms should we be considering?” she said.

Other countries included in the survey are Germany, Ireland, and Russia.